India’s startup funding scene is seeing interest in businesses that combine technology with real-world industries. Two recent stories highlight this shift. Materials-science startup Whizzo is reportedly in talks to raise $25 million from Bertelsmann India Investments, while biotech company Peptris Technologies has secured Rs. 86 crore from the Technology Development Board for AI-based drug development.

The two companies work in very different sectors, but both are trying to solve difficult problems through science, technology and specialized research.

Whizzo aims to modernize technical textile manufacturing

Whizzo was founded in 2024 by Shrestha Kukreja, a former Zetwerk executive.

The Bengaluru-based company develops technical textiles used in areas such as agriculture, infrastructure, packaging, protective clothing and industrial applications.

Unlike regular fabrics used mainly for comfort or fashion, technical textiles are designed for a specific purpose. They may need to resist heat, water, chemicals, fire or heavy pressure. For example, a geotextile can be used in road construction, while a protective textile may be needed for industrial workers.

Whizzo follows a contract development and manufacturing model. In simple terms, it helps customers move from an early product idea to research, testing, prototypes and large-scale manufacturing through one connected system.

According to earlier reports, Whizzo had raised $15 million in a Series A round led by Fundamentum. The money was intended to support materials research, intellectual property development and the expansion of its manufacturing network across Asia. The company had also planned to increase exports and work with more small and medium-sized manufacturers.

The proposed $25 million fundraise from Bertelsmann India Investments could help Whizzo expand its research facilities, build more proprietary textile products and increase production capacity. However, the round is still in discussion, so the final amount, valuation and use of funds may change as per Moneycontrol.

Peptris is taking AI drug discovery towards clinical development

Peptris Technologies was founded in 2019 by Venkatasubramanian Narayanan, Shridhar Narayanan, Anand Budni and Amit Mahajan.

The company uses artificial intelligence and machine learning to identify and improve potential drug molecules.

Its platform can study large chemical datasets, suggest new molecules and predict important properties such as safety, activity and suitability for further testing. This can reduce the number of compounds that need to be tested manually in laboratories.

The Rs. 86 crore support, approximately $8.98 million, has been approved under the government’s Research Development and Innovation Fund. It will support Peptris’s three-year VIGOR programme, which has a total project cost of Rs. 172 crore.

The programme will work on four AI-discovered drug candidates linked to conditions including neuromuscular disorders, cancer, alopecia, neuropathy and Duchenne muscular dystrophy. The plan is to move these candidates from an early validated stage towards advanced preclinical research and preparation for clinical trials as reported in PIB.

This is not a traditional equity investment. The support is structured as optionally convertible debt, which means the funding is provided as debt but may be converted into company shares under agreed conditions.

Disclaimer

The Whizzo fundraise is reportedly under discussion and should not be treated as a completed funding round until officially confirmed. Funding structures, amounts and deployment plans may change. This article is for information only and is not investment advice.